Summary
The Norwegian employee benefits market is predominantly controlled by the public social security system; however, the growth of labor-intensive industries has fueled the growth of the country’s private benefits market over the last decade. The public social security system, which is supervised by The Norwegian Labor and Welfare Administration (folketrygden, NAV), plays a significant role in the country’s welfare system and is responsible for providing general social insurance schemes to the citizens of Norway. Other schemes such as the Family Allowance Scheme and the Scheme for Cash Benefit for Families with Small Children are also contributing to the overall development of the country’s social welfare system.
The report provides in-depth industry analysis, information and insights of the employee benefits in Norway, including: overview of the state and compulsory benefits in Norway, detailed information about the private benefits in Norway, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Norway.
Key Highlights
- A number of state and compulsory benefits schemes such as old-age pensions, disability benefits, survivor's benefits, short-term sickness benefits, and occupational injury benefits, cash benefits for sickness, medical benefits, and funeral grants are provided to citizens.
- The Norwegian employee benefits market is predominantly controlled by the public social security system; however, the growth of labor-intensive industries has fueled the growth of the country’s private benefits market over the last decade.
- All the citizens who are permanent residents of Norway and employed in the country are insured under the NAV.
- Several employee benefits provided by the NAV are determined based on the basic amount adjusted annually by a royal decree in order to take account of the changes in employee’s general income levels.
Scope
- This report provides a detailed analysis of employee benefits in Norway.
- It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
- It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, family benefits, unemployment, leave and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in Norway.
Reasons to buy
- Make strategic decisions using in-depth information related to employee benefits in Norway.
- Assess Norwegian employee benefits market, including state and compulsory benefits and private benefits.
- Gain insights into the key employee benefit schemes offered by private employers in Norway.
- Gain insights into key organizations governing Norwegian employee benefits, and their impact on companies.
'
Table of Contents
1 EXECUTIVE SUMMARY
2 INTRODUCTION
2.1 What is this Report About?
2.2 Definitions
3 COUNTRY STATISTICS
4 OVERVIEW OF EMPLOYEE BENEFITS IN NORWAY
5 REGULATIONS
6 STATE AND COMPULSORY BENEFITS
6.1 Retirement Benefits
6.1.1 Introduction
6.1.2 Types of Retirement Plan
6.1.3 Eligibility
6.1.4 Age
6.1.5 Pensionable Salary
6.1.6 Benefits
6.1.7 Payment Options
6.1.8 Employee and employer contributions
6.1.9 Taxation
6.2 Death in Service
6.2.1 Introduction
6.2.2 Eligibility
6.2.3 Benefits
6.2.4 Payment Options
6.2.5 Employee and employer contributions
6.2.6 Taxation
6.3 Long-Term Disability Benefits
6.3.1 Introduction
6.3.2 Eligibility
6.3.3 Benefits
6.3.4 Payment Options
6.3.5 Employee and employer contributions
6.3.6 Taxation
6.4 Short-Term Sickness Benefits
6.4.1 Introduction
6.4.2 Eligibility
6.4.3 Benefits
6.4.4 Payment Options
6.4.5 Employee and employer contributions
6.4.6 Taxation
6.5 Medical Benefits
6.5.1 Introduction
6.5.2 Eligibility
6.5.3 Benefits
6.5.4 Payment Options
6.5.5 Employee and employer contributions
6.5.6 Taxation
6.6 Workmen’s Compensation Insurance
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.6.4 Payment Options
6.6.5 Employee and employer contributions
6.6.6 Taxation
6.7 Maternity and Paternity Benefits
6.7.1 Introduction
6.7.2 Eligibility
6.7.3 Benefits
6.7.4 Payment Options
6.7.5 Typical Employer Practice
6.7.6 Employee and employer contributions
6.7.7 Taxation
6.8 Family Benefits
6.8.1 Introduction
6.8.2 Eligibility
6.8.3 Benefits
6.8.4 Payment Options
6.8.5 Employee and employer contributions
6.8.6 Taxation
6.9 Minimum Resources
6.9.1 Introduction
6.9.2 Eligibility
6.9.3 Benefits
6.9.4 Payment Options
6.9.5 Taxation
6.1 Annual Vacations
6.10.1 Introduction
6.10.2 Holiday Pay
6.11 Unemployment Benefits
6.11.1 Introduction
6.11.2 Eligibility
6.11.3 Benefits
6.11.4 Payment Options
6.11.5 Employee and employer contributions
6.11.6 Taxation
6.12 Long-Term Care Benefits
6.12.1 Introduction
6.12.2 Eligibility
6.12.3 Benefits
6.12.4 Taxation
7 PRIVATE BENEFITS
7.1 Retirement Benefits
7.2 Disability Benefits
7.3 Death Benefits
7.4 Medical and Health Benefits
7.5 Other Benefits
8 APPENDIX
8.1 Methodology
8.2 Contact GlobalData
8.3 About GlobalData
8.4 GlobalData’s Services
8.5 Disclaimer
List of Tables
Table 1: Insurance Industry Definitions
Table 2: Norway - Country Statistics
Table 3: Norway - Retirement Pension Benefits
Table 4: Norway - Child Care Benefits Amount per Child, 2016
Table 5: Norway - Cash Benefits for Time Spent in Nursery, 2018
List of Figures
Figure 1: Norway - Main Institutions of Social Security System
